Comparing the Largest American and Chinese Companies
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With a GDP of around $18 trillion, China boasts the world’s second-largest economy, trailing only the United States.
The combination of low labor costs and advanced technology has positioned China as the global manufacturing hub.
In this graphic, we compare the 15 largest Chinese and American companies based on their 2022 revenue, using data from the Fortune China 500 and Fortune Global 500.
Chinese State-Owned Giants
Not as well-known in Western countries as brands like Walmart, Amazon, or Apple, China’s largest companies rank among the world’s top in terms of revenue.
China’s biggest company, the utility giant State Grid, is the third-largest company by revenue globally, trailing only Walmart and Saudi Aramco.
| Company | Industry | 2022 Revenue (USD billion) |
|---|---|---|
| 🇺🇸 Walmart | Retailer | $611B |
| 🇨🇳 State Grid | Utility | $530B |
| 🇺🇸 Amazon | Retailer | $514B |
| 🇨🇳 China National Petroleum | Oil and Gas | $483B |
| 🇨🇳 Sinopec Group | Oil and Gas | $471B |
| 🇺🇸 Exxon Mobil | Oil and Gas | $413B |
| 🇺🇸 Apple | Electronics | $394B |
| 🇺🇸 Berkshire Hathaway | Insurance/ Property and Casualty (Stock) | $383B |
| 🇺🇸 UnitedHealth Group | Insurance/ Health Care | $324B |
| 🇺🇸 CVS Health | Health Care/ Pharmacy | $322B |
| 🇨🇳 China State Construction Engineering | Construction | $306B |
| 🇺🇸 Alphabet | Internet Services/ Retail | $283B |
| 🇺🇸 McKesson | Health Care / Pharmacy | $264B |
| 🇺🇸 Chevron | Petroil Refining | $246B |
| 🇺🇸 Cencora | Health Care | $238B |
| 🇺🇸 Costco Wholesale | General Merchandisers | $227B |
| 🇺🇸 Microsoft | Computer Software | $227B |
| 🇨🇳 Industrial & Commercial Bank of China | Banking/Financial | $215B |
| 🇨🇳 China Construction Bank | Banking/Financial | $203B |
| 🇨🇳 Agricultural Bank of China | Banking/Financial | $187B |
| 🇨🇳 Ping An Insurance | Banking / Insurance | $182B |
| 🇺🇸 Cardinal Health | Health Care | $181B |
| 🇺🇸 Cigna | Health Care / Insurance | $180B |
| 🇨🇳 Sinochem Holdings | Chemicals / Fertilizer | $174B |
| 🇨🇳 China Railway Engineering Group | Holding Company | $172B |
| 🇨🇳 China National Offshore Oil | Oil and Gas | $165B |
| 🇨🇳 China Railway Construction | Construction | $163B |
| 🇨🇳 China Baowu Steel Group | Steel/Metallurgy | $162B |
| 🇨🇳 Bank of China | Banking/Financial | $157B |
| 🇨🇳 JD.com | Retail | $155B |
State Grid holds the title of the largest utility company globally. In 2022, it reported 871,145 employees and served 1.1 billion customers.
Most of the leading Chinese companies on this ranking are similar to State Grid, in that they were initially founded as state-owned entities and operate in traditional industries like utilities, banking, construction, and oil and gas.
Another example is China State Construction Engineering, the world’s largest construction company, notable for constructing two hospitals in Wuhan in less than two weeks during the COVID-19 pandemic.
In contrast, the U.S. top 15 list leans more towards a presence of retail and technology companies.
One Chinese company that bucks the trends above is JD.com, a massive e-commerce company. Founded by internet entrepreneur Liu Qiangdong in 1998, JD.com initially started as an physical electronics store, but quickly expanded into e-commerce and diversified its product offering. Today, it stands as a major competitor to Alibaba’s Tmall.
China claims three spots in the top five overall, with oil and gas companies China National Petroleum and Sinopec Group leading ahead of companies like ExxonMobil, Apple, and Berkshire Hathaway.
